[REVIEW] Meridian Visa Infinite Cash Back Card

This year seems to be the year of the cash back cards! Another cash back card has been introduced to the market. We recently saw the not-so-impressive:

This time the Meridian Visa Infinite Cash Back Card. Meridian is a credit union operating in Canada.


Below are the highlights of this card:

  • $99 annual fee (first year fee waived)
  • $30 annual fee for supplementary cardholders
  • Earn 4% cash back on gas and grocery store purchases (on the first $25,000 in purchases, then 1% for all other purchases)
  • Earn 2% pharmacy purchases and utility bill payments (on the first $25,000 in purchases, then 1% for all other purchases)
  • Earn 1% cash back on all other purchases
  • Require either $60,000 annual personal income or $100,000 annual household income

Annual Fee

Unlike the RBC and TD cards, Meridian actually waives the first year annual fee, so at the very least, this is worthwhile to give it a try. Note that it is a limited time offer without a specific end date. The official wording is as follows:

  • First year free is a limited time offer and is activated after the first transaction. Annual fee will appear on initial statement and a credit will be applied on the second statement following the transaction. Meridian reserves the right to modify or withdraw this offer at any time without prior notice.

Earning Ratios

I would only use this card on the multiplier bonus categories. I would not use this credit card if I am only going to earn 1% cash back on my purchase. So to maximize the earning ratio return, you would need to spend the full $25,000, which would look as follows:

  • $25,000 x 4% = $1,000
  • $25,000 x 2% = $500

This results in a total $1,500 in cash back. If you subtract the $99 annual fee (assuming you kept the card beyond the first year), that would result in a net of $1,401 ($1,500 – $99).


In comparison, if you had the Tangerine Money-Back Credit Card and earned 2% cash back on 3 categories, let’s say you spent the same $50,000, that would earn you $1,000 ($5,000 x 2%) in cash back. Seeing as it is a no annual fee card, it would return you less than the $1,401 with the Meridian card.

Cash Back

The cash back has some flexibility where you can exchange for:

  • Account Credit
  • Merchandise
  • Event Tickets
  • Gift Cards


Seeing a the first year annual fee is waived, if you prefer cash back, then I would definitely at least give this card a try a for a year. Let’s give the smaller companies some market share to put some pressure on the other companies!


  1. Between this card, the Scotia Momentum Visa Infinite Card, and the CIBC Dividend Visa Infinite Card, which card would you recommend? They are all very similar…

      1. That is true, but I’m curious to know your recommendation for the longer term, in terms of sticking to one card only.

        1. I think the Meridian Visa Infinite Cash Back card is the best option long term compared to the Scotia Momentum Visa Infinite card and CIBC Dividend Visa Infinite card. Meridian has the exact same cash back bonus categories as Scotia, which provides slightly more value than CIBC (unless you spend a lot of money at Tim Hortons and TELUS). Meridian includes better insurance coverage such as price protection, mobile device, and very good emergency travel medical (especially for those older than 65). Instead of providing cash back like Scotia and CIBC once per year (Dec statement), Meridian allows cash back redemption at any time (for Account Credit Rewards, there is a minimum redemption of $50).

        2. I have a hard time recommending sticking to one cash back card long term, as it does not maximize all the rewards you can get. I do like JB’s explanation if you do forgo maximing the rewards with all the options available to you from different companies.

  2. Thanks JB for your excellent summaryt. Meridian Visa Infinite Cash back card is equal to Scotia Visa infinite Momentum plus great insurance features (as pointed by JB)price protection, mobile device protection insurance, No other cash back card offers all these insurance features with rich cash back rewards. I am moving out from Scotia Visa Infinite to Meridian Visa Infinite cash back card.

  3. It is worth mentioning that Meridian is an Ontario Credit Union. Therefore, they can only issue a card to those who either live and/or work in Ontario.

  4. Dont use this card for purchases in the states they charge you twice one for exchange and a separate foreign tranaction fee

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